Real Estate Law

March 12, 2018

Getting Started in Rental Property Investing

Part 2 of 4 of the series on Residential Real Estate Investment Basics: Getting Started in Rental Property Investing
Beginning residential real estate rental property investment typically involves acquiring a single-family home, or a multi-family property, specifically, a duplex, triplex, or quad. The most basic investment plan will calculate the ...

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Feb. 28, 2018

IRS Provides Clarification on Home Equity Loan Interest Deductions

When the new tax bill was passed, it was widely accepted that the interest deduction on mortgage would be capped at a maximum of $750,000 of mortgage debt. And, that interest on home equity loans would not be deductible at all. However, recently the IRS issued a news release ...

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Feb. 28, 2018

Michigan Property Taxes and Avoiding "Uncapping"

The Tax Act requires an annual assessment of all taxable property in the state of Michigan. Before the end of the day of the first Monday in March, the assessor must complete the annual assessment roll, setting forth the name and address of every person subject to the tax, along ...

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Feb. 26, 2018

1031 Exchange – Defer Tax to Increase Wealth

When a property is sold, the seller is forced to pay capital gains on the profit realized from this sale. For example, say you buy a rental property in 2010 for $250,000. If you are able to sell that property today for $310,000, you would have a profit ...

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Feb. 25, 2018

Michigan Water Law Basics

Water law is important in Michigan, not just because of the Great Lakes, but also because the state boasts more than 60,000 inland lakes and rivers as well. The terms riparian and littoral are used to refer to the set of rights that a landowner has to use the ...

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Feb. 20, 2018

How will the 2018 Tax Reform affect Homeowners?

How will the 2018 Tax Reform affect Homeowners?
The Tax Cuts and Jobs Act was officially signed into law on December 22, 2017, and made effective for the 2018 calendar year. Here is what changed, of importance to home owners, and what did not change.
•    Mortgage Interest Deduction: Interest ...

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